Occidental Petroleum (NYSE:OXY) Trading Up 2.7% – What’s Next?

Occidental Petroleum Co. (NYSE:OXY) shares traded up 2.7% during trading on Monday . The company traded as high as $48.02 and last traded at $48.06. 2,926,187 shares changed hands during trading, a decline of 69% from the average session volume of 9,575,889 shares. The stock had previously closed at $46.78.

Analysts Set New Price Targets

OXY has been the topic of several recent analyst reports. The Goldman Sachs Group cut Occidental Petroleum from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $54.00 to $45.00 in a report on Friday, January 31st. Mizuho reduced their price objective on Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. Susquehanna lowered their price target on shares of Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating on the stock in a report on Thursday, November 14th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $56.00 price objective on shares of Occidental Petroleum in a research report on Friday, November 8th. Finally, Piper Sandler decreased their price target on Occidental Petroleum from $57.00 to $51.00 and set a “neutral” rating for the company in a research note on Thursday, December 19th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Occidental Petroleum currently has an average rating of “Hold” and a consensus target price of $61.71.

Occidental Petroleum Price Performance

The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.76. The firm has a market cap of $44.88 billion, a P/E ratio of 12.46 and a beta of 1.55. The company has a fifty day moving average of $49.03 and a 200-day moving average of $51.85.

Insider Activity at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc purchased 3,614,015 shares of the stock in a transaction dated Thursday, December 19th. The shares were purchased at an average cost of $45.60 per share, with a total value of $164,799,084.00. Following the completion of the acquisition, the insider now owns 264,178,414 shares in the company, valued at $12,046,535,678.40. This represents a 1.39 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last three months, insiders acquired 6,854,394 shares of company stock valued at $315,101,532. 0.31% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Certified Advisory Corp purchased a new position in Occidental Petroleum in the 4th quarter worth approximately $476,000. Rule One Partners LLC purchased a new stake in Occidental Petroleum in the third quarter worth about $14,199,000. Stephens Inc. AR lifted its holdings in Occidental Petroleum by 221.0% during the third quarter. Stephens Inc. AR now owns 15,079 shares of the oil and gas producer’s stock valued at $777,000 after purchasing an additional 10,382 shares in the last quarter. Sarasin & Partners LLP boosted its holdings in Occidental Petroleum by 5.4% in the 4th quarter. Sarasin & Partners LLP now owns 990,521 shares of the oil and gas producer’s stock worth $48,942,000 after buying an additional 50,983 shares during the period. Finally, Weiss Asset Management LP purchased a new position in Occidental Petroleum in the 3rd quarter worth approximately $2,509,000. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Company Profile

Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States, the Middle East, and North Africa. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The company's Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.